On March 6th, JD Logistics Limited released its fourth-quarter and annual performance report for 2023, achieving a historic high in annual net profit of 2.76 billion CNY, marking a staggering increase of 218.8% year-on-year.
According to the financial report, JD Logistics recorded a revenue of 47.2 billion CNY in Q4 2023, compared to 43 billion CNY in the same period last year, surpassing market expectations of 46.2 billion CNY, with a year-on-year growth of 9.7%. The net profit for Q4 2023 reached 1.039 billion CNY, compared to 352 million CNY in the same period last year, far exceeding market expectations of 160 million CNY.
For the full year 2023, JD Logistics achieved a total revenue of 166.6 billion CNY, representing a growth of 21.3% year-on-year, with external customer revenue accounting for a continuous 70% share. The adjusted net profit for 2023 also reached a new high of 2.76 billion CNY, showing an impressive increase of 218.8% compared to the previous year.
Throughout the entire year of 2023, JD Logistics achieved record-high revenue and net profit.
It's worth noting that JD Logistics stated in its financial report that the expenditure on employee compensation and benefits for operational staff engaged in warehouse management, sorting, picking, packaging, transportation, delivery, and customer service increased by 20.5% from RMB 12.8 billion in the three months ending on December 31, 2022, to RMB 15.4 billion for the same period in 2023.
